System1 Soars 70% As Net Income Quadrupled; Revenue Outlook Revised Up
Shares of System1, Inc. (SST), an omnichannel customer acquisition marketing platform, are surging more than 70% Tuesday morning after reporting improved fourth-quarter results. The company also raised its full year revenue guidance.
Net income in the fourth quarter more than quadrupled to $31 million from $7 million last year.
Revenue for the quarter increased 48% year-over-year to $239 million
For 2022, the company has raised its revenue outlook to $1 billion, up 20% year-over-year, from the previous guidance of $995 million.
System1 started trading on the NYSE on January 28, 2022, following business combination with Trebia Acquisition Corp., a special purpose acquisition company.
Michael Blend, Co-Founder & Chief Executive Officer of System1, commented, “We are excited to report our fourth quarter and full year 2021 results, which demonstrate the increasing value of our RAMP technology platform, while we continue to focus on growing our advertising and subscription businesses. For 2022, we see numerous opportunities to expand our business and will continue to invest in and innovate on our RAMP technology platform.
SST touched a new high of $37.05 thi4s morning before slipping to trade at $28.51 currently.
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